Monday May 28, 2012

JAPAN NEWS AND DISCUSSION

Debt crisis will strengthen Europe, French PM says

World Jul. 16, 2010 - 02:14PM JST ( 16 )

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

Order by Time Order by Popularity

16 Comments

0

jruaustraliaJul. 16, 2010 - 02:54PM JST

Sounds about right; Fillon statement's echoes that of the IMF that global 'recovery will go on without a double dip' recession.
0

MadvertsJul. 16, 2010 - 03:37PM JST

France is skint. Lying to everyone about the Greek style mess we're not so far from and applying the blinkers and shouting down anyone who suggest otherwise.
0

WakarimasenJul. 16, 2010 - 03:56PM JST

Europe is bankrupt.
0

TumbleDryJul. 16, 2010 - 05:42PM JST

Madverts & Wakarimasen: wait and see who will bankrupt first.
0

PigletJul. 16, 2010 - 06:13PM JST

Europe is bankrupt.

The financial status of Europe is not that good at the moment, but there is no doubt long-term prospects for Japan are much worse.
0

MadvertsJul. 16, 2010 - 06:13PM JST

Having a business in France, I'm really hoping people might get into the street for the right reasons for once in their lives rather than watch us all go tits-up.

We've just had Bastille Day which remembers the up-rising and execution of the depotic royals. When I see Sarkozy's cronies getting dabbed for spending 12 grand of our money on cigars (yes 12,000€!!), I'm feeling like they should be dusting off the Guillotine and lining 'em up.
0

graftonJul. 16, 2010 - 06:21PM JST

Yes the Euro (and Europe to some degree) does have a bad cold, but it isn’t dying and if it stops thinking of the (not so) almighty Dollar as a cure then it will get better sooner. Whatever the currency Greece would have either gone belly up or needed rescuing, their own lies and dishonesty did that, not the Euro. In fact being in the Euro is the only thing that has kept them afloat. Spain’s economy is far stronger than people want to believe, Portugal and Ireland would have got through without too much pain had Greece not put a spot light on all the EU block countries. Italy? Who would ever trust Italy in or out of the Euro? France and Germany simply have the power to get through even if it does hurt a little on the way. What needs to be avoided is any more shocks from across the Atlantic. The virus that destabilised all the world currencies is called “The Dollar”.
0

MadvertsJul. 16, 2010 - 06:34PM JST

Grafton,

"Spain’s economy is far stronger than people want to believe"

They seem to have adopted a massive price hike on just about everything down your way as a means to revenue (I'm actually not that far from the border). Everytime I used to come down to Spain I'd have at least one 50 gallon drum to fill with diesel on the truck. Not anymore though, in just a few years it's become more expensive than in France!
0

Klein2Jul. 16, 2010 - 08:07PM JST

"The virus that destabilised all the world currencies is called “The Dollar”."

Yep. They are still sloshing around the world, aren't they? Until all that gets soaked up, there is going to be one crisis or another for the next century. It is a little painful for Europe to have to deal with this, but it is facing the music and doing what needs to be done, and it will be the better for it. Don't count on dollar problems to be handled with equal maturity.
0

GJDailleultJul. 16, 2010 - 10:23PM JST

a massive aid package for Greece

Greece did not receive any aid package. The French and German banks that lent money to Greece received the massive aid package.

Greece is still on the hook, just to a different lender.
0

TriumvereJul. 17, 2010 - 01:23AM JST

... or destroy it. The Euro is on the brink.
0

graftonJul. 17, 2010 - 08:36AM JST

Madverts at 06:34 PM JST - 16th July

“They seem to have adopted a massive price hike on just about everything down your way as a means to revenue”

If you were talking about 3 months ago I would have to agree with you, because there really was that feeling. I drove up from Barcelona to the Channel ports about then and felt the same as you when I crossed into France. Today however there seems to be a far more relaxed attitude, bankers and accountants (asesorias) that I know and work with are talking it all down, the danger, the fear has past. There was the semi open secret that the banks were hiding some serious debt but the Madrid government saw that off with it’s forcing of the Cajas to merge. Regional governments here have always found ways to hang on to their money so places like Catalonia, Valencia, Murcia and Almeria are doing just fine, if not more than fine. The Northern regions have not been so lucky, but when have they ever been? All that is perhaps why Spain usually does scrape through, it has it’s two secret weapons, the semi autonomous regions and the most incredible black economy of any country I have ever seen. And should you really be thinking of a move South, house prices are at an all time low, but I guarantee you that will not last, a year from now and prices will start up again. Of the PIGS Spain is a Wolf in Sheep clothing. I did want to sell up in Europe, and will do, but not for another year, maybe two.

Triumvere at 01:23 AM JST - 17th July

“The Euro is on the brink.”

Wishful thinking on your part I suspect. If you had said Sterling however I would have agreed with you. That is an artificial construct built something along the line of a soap bubble.
0

TriumvereJul. 17, 2010 - 03:47PM JST

Wishful thinking on your part I suspect.

I am not wishing for the collapse of the Euro or the EU for that matter. But I suspect that the Euro is not sustainable over the long run. This is but the first crisis...
0

MadvertsJul. 17, 2010 - 04:59PM JST

Well Grafton, house prices have been generally pretty stable here but even so they've taken a whack since 2008 - haven't we all? I'm meeting lots of Brits moving up from Spain to France (though most to avoid the football shirt glitterati we were discussing the otherday) - whilst many Brits here are going back to the UK, though for the life of me I can't imagine why.

France is losing it's identity in my opinion, it's becoming a police state much like the UK, mainly because they've realized how much revenue they can rake in persecuting motorists.

Heh, at least you can still drive fast in Spain....
0

graftonJul. 18, 2010 - 12:09AM JST

Madverts at 04:59 PM JST - 17th July

“whilst many Brits here are going back to the UK, though for the life of me I can't imagine why.”

I suspect the younger ones will be moving to France to get away from the other football shirt British while the older ones are those that live on pensions that were hit by the rate of exchange between the UK and Spain. If only they had had the sense to have some saving and hung on a little. There was a period of instability when the none Spanish residents got hit and hit hard, but that hasn’t lasted long. House prices will regain their value given time and with the Sterling Euro exchange rate improved in favour of the expats they could have managed. However like a lot of people that live in other counties they always blame that country and abandon it as soon as things look bad, loyalty doesn’t come with the purchase of a house and now will be back in the wonderful UK. How sad! NOT.

“Heh, at least you can still drive fast in Spain....”

You do know that it is the Guardia Civil that control the roads in Spain? Smile a lot and pay the fine. Though having said that I have to admit they are a lot nicer than those semi military police you have.

There is an idea that some Spanish friends and I were talking about last week that maybe Spain allowed it self to be portrayed as being a bit on the economically fragile side so that it had more leeway with the big guys up North (mainly France and Germany). Like claiming to be sick so as to avoid having to do a job you don’t want to do. Things were getting out of hand here and needed to be sorted out, maybe you have seen that Sn. Ortis was arrested last week. Plus some serious politicians with him. Like the Japanese the Spanish are often seen as being foolish, yet they do always seem to come out well (for the Japanese and Spanish) in the end. Shouting about how strong you are isn’t always the best way to get what you want.